Page 9: par. 3: Should be a left double quotation
In either case, such an economy would be comparable in kind to those whose participants are the ‘’animal consumers” examined by John Kagel and Raymond Battalio, and their coworker's.3
Page 15: par. 0: example
He acts to make the shoes from cowhide. (My thanks to Israel Kirzner for this exmple.)
Page 16-17: last sentence. to next page: dormancy
Faith in the efficacy of such predictive science for assistance in controlling the economy perhaps reached its apogee in the 1960s, after which skepticism emerged from its dormacy.
Page 19: Footnote 7: Cambridge
(Cambrigde: Cambridge University Press, 1980)
Page 35: par. 3: Missing hyphen
Both men shared an interest in neoKantian philosophy and an aversion to the cruder brands of positivism and behaviorism.
Page 36: par. 1: Missing hyphen
In his quest for a reputable philosophical position that would supply him with enough intellectual armor to withstand the onslaughts of positivism and to espouse the cause of rationalism in human affairs, he was driven to seek refuge in neoKantianism, the dominant school of thought in the German universities in the first quarter of this century.
Page 41: bottom par.: sequel
Lachmann’s chapter is clearly a sequal to and a substantial elaboration of his stimulating essay “From Mises to Shackle,”
Page 45: par. 0: Footnote 19 should be Footnote 17
Page 46: par. 2: Should be a left double quotation
“The social sciences do in fact nothing of the sort. If conscious action can be ‘’explained,” this is a task for psychology but not for economics.”
Page 46: par. 4: Should be a left double quotation
[...] because its propositions ‘’are valid for every human action without regard to its underlying motives, causes, and goals.
Page 65: Right after footnote 62: inference
Therefore, the inferrence of past events from a theoretical model satisfies the criterion.
Page 87: par. 1: entrepreneurship
Do we really need the concept of the evenly rotating economy “to grasp the function of enterpreneurship and the meaning of profit and loss” (p. 248), [...]
Page 91: par. 2: transactions
“This in turn requires that information processes and costs, transactions and tranactions costs and also expectations and uncertainty be explicitly and essentially included in the equilibrium notion.
Page 93: bottom par.: further
We may safely take it, from Hayek’s other writings if not from this paper, that the study of equilibrium is advocated to obtain additional insights and not to preclude the futher formal study of the mar-[...]
Page 100: Missing closing quotation mark
Milgate, M. 1979. On the origin of the notion of “intertemporal equilibrium. Economica 46:1-10.
Page 110: Missing closing quotation mark
Rothschild, Michael. 1973. “Models of market organization with imperfect information: a survey. Journal of Political Economy 81:1283-1308.
Page 111: par. 1: cooperation (to match the rest of the usage throughout the book)
For consider what precedes it. “In civilized society [man] stands at all times in need of the co-operation and assistance of great multitudes, while his whole life is scarce sufficient to gain the friendship of a few persons.”
Page 113: par. 3: everything
Once everthing is agreed— and within the analytical convention, finally agreed—there is no further need for any of the apparatus of enquiry, communication, and control which might have been required to secure agreement.
Page 121: par. 1: entrepreneurship
Since, moreover, enterpreneurship is based on superior knowledge in some particular, it is open to an entrepreneur to seek profit through misleading those with whom he proposes to trade.
Page 147: par. 1: entrepreneurship
Clearly this way of identifying the entrepreneurial element that is present in Misesian human action but absent in Robbinsian economizing activity fits in well with the approach that defines enterpreneurship as alertness to hitherto unperceived opportunities.
Page 159: Footnote 27: "Idid." should be "Ibid."
Page 174: par. 2: indeed
[...] as a category of intervention, and ndeed Mises was to add a separate category for confiscatory and redistribu-tionary taxation in his later work.
Page 176: par. 0: nonetheless
Thus Mises now treats taxation as a category of interventionism, which he nontheless still defines as he had in 1926 as any government policy that “forces the entrepreneurs and capitalists to employ some of the factors of production in a way different from what they would have resorted to if they were only obeying the dictates of the market” (1949, pp. 714-715).
Page 177: par. 0: should be a right double quotation
Thus in contrast to his statement in 1926, “If government buys milk in the market in order to sell it inexpensively to destitute mothers or even to distribute it without charge, or if government subsidizes educational institutions“ there is intervention (1926, p. 20).
Page 177: par. 2: missing space
[...] Mises analyzed can be meaningfully classified), his further subdivisions and analysis of taxation (which Mises had included but said little about), his inclusionof government expenditure, and nationalization (which Mises had excluded altogether).
Page 183: References: "Human Action" has wrong italics:
1949. Human action: a treatise on economics. London: William Hodge, 1949.
Page 197: par. 2: preferred
He prefered defining competition as “Economic Freedom.”
Page 198: par. 3: embarrassing
(To quote him today on the wonders of the public post office versus private telegraph companies would be merely embarassing.)
Page 199: par. 2: Missing closing quotation mark
Pure monopoly is a situation of one seller facing the entire-industry demand. The situation depends on there being no producers of “close substitutes.38
Page 206: par. 1: transferred
Property titles will be exchanged so that these resources are transfered to the highest-valued user.
Page 209: par. 1: historical
We have seen that the tradition espoused by Rothbard and Armentano has deep historial roots.
Page 212: Footnote 39: "Harold Demetz" should be "Demsetz"
Page 213: Footnote 51: production
Kirzner asserts, but offers no argument to prove, that juice pro-uction would be more lucrative than orange sales, ibid., p. 110.
Page 221: Footnote 8: Mass.
(Cambridge, Mass,: Harvard University, 1971).
Page 238: par. 1: viewpoints
Assessment of this worry requires a careful distinction of veiwpoints.
Page 242: Footnote 1: "On Freedom and Free Entreprise" should be "Enterprise"
Page 244: Footnote 14: Missing closing quotation mark
For further citations and fuller discussion, see my “What Are Banks? in the Atlantic Economic Journal 6 (December 1978): 1-14.
Page 257: Index: Mises
Balance of payments, 227, 234; Mise on, 247-255
Page 257: Index: Bohm-Bawerk should have an 'ö'
Needs better Mises picture.
Should I add in hyphenation? non-, anti-, pre-, post-, under-, over-, -like, super-, supra-, inter-, -wide, multi-